s.arun.natesh

Ashok Leyland - Imminent breakout

Long
NSE:ASHOKLEY   ASHOK LEYLAND
The stock has seen a nearly 10 day consolidation and has reversed to 38.2% from the previous high. On the weekly chart, there is a nice double bottom and indicators have turned positive. Other indicators like MACD and Ichimoku are also bullish.Currently the stock is at a resistance level. Market Facilitation index is also confirming a trend reversal. Any break above Friday's high of 54.9 is a good place to go long with a target of 64 and a stop of 51

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.